Monday, October 13, 2008

VIEWS FOR 13th OCTOBER to 18th OCTOBER

MCX Gold (December) : Favored view expects 13885/13964 to resist and price to fall again towards 13095 levels. crucial support is at 12969 and a daily close below this level could open the way for 11597 lows. Only a rise above 14170 could force us to abandon our bearish view now.S1:13610 S2:13545 R1:13785 R2:13850

MCX Silver (December): Chances of a good pullback evident is silver futures. Resistance will be seen at 20921 followed by 21871. Fell in the bigger picture resistance to cap for one more decline towards 17354. S1:19850 S2:19500 R1:20385 R2:20750.

MCX Crude Oil (October): Favored view expects that price could stay above 3970 or 3920 for further advance towards 4070 or 4045. Fall below 3913 would hint at weakness and suggest that price could fall further towards 3843 or even 3800. S1:3880 S2:3820 R1:3990 R2:4050

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